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Newspaper
Atlantic Evening News
Location
Atlantic, Iowa, United States of America
Date
Sep 17, 1908
Page
2
Charles G. Dawes, former controller of the currency and president of the Central Trust Company of Chicago, defends his position against a national bank deposit insurance system in a Chicago Tribune letter dated September 12. He responds to recent Democratic committee inquiries and references a 14 year old volume discussing U S banking relations.
A 19th century banking debate discusses the potential effects of deposit insurance on financial stability and loan liquidation during panics. The author recounts researching the issue as controller of the currency in 1898, noting fundamental economic objections and the risk of moral hazard if deposits are deemed risk free. He cites letters to Gov. Hoch of Kansas and A J Hopkins of the Senate finance committee, arguing against broad insurance laws.
Short terse notices from town life recount Adair’s district fair on the 28th, 24th, and 25th. the Marne Democrats planning a Bryan and Kern club meet. Democratic HQ opened on Fourth Street. Local visitors include J D Murray from Chicago and I V Conine returning from Ohio. Various townsfolk and events fill the day with updates on education, business, and subscriptions.
Miss Mary Hopley served as an Atlantic caller on Thursday. Many residents return from visits including Mrs. Lucelia Mills and daughter Susan from Lincoln. Local moves include John Hancock family and J. Macomber on business trips, while Mrs. Adolph Woodward and Miss Stevens contribute to millinery work. School board names Miss Hana Wells assistant principal. Rev Samuel Smith travels to Nebraska and Idaho. Doings cover shoppers, visits, and local notices with illness, ads, and a wanted ad for a housemaid.
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